Seismic Survey on Ungani Oilfield Concluded

Rey Resources Limited has been informed by Buru Energy Limited, our partner and operator of the Fitzroy Blocks, that a 2D geophysical survey has been completed with total of 234 line kilometres acquired over the Ungani Trend in EP457. Data quality is reported as good and seismic processing will occur over the remainder of 2013.

A regional airborne gravity survey over the area, including the Fitzroy Blocks, is expected to be completed in early December.

Data from the surveys will inform target selection for conventional oil targets along the Ungani Trend in the Fitzroy Blocks, the first of which is anticipated to be drilled in Q2 2014.

A 2D seismic survey is scheduled for EP 458 in 2014.

Rey holds a 25% interest (including a 10% free carried to production) in a joint venture on the Fitzroy Blocks along with Buru (37.5% and operator) and Diamond Resources (Fitzroy) (37.5%) who are a 100% subsidiary of Mitsubishi Corporation.